One day it is going up the next day it turns down. The bears should be cautious now as the market may edge higher now. It appears, the Nifty may go past 5900 shortly and hence it is better not to short the Nifty as of now till clarity emerges. Bulls too should avoid it at least till Nifty crosses 5900! Bulls would do well once Nifty crosses and closes above 6000!

Nifty has been trading in a narrow band of 140 points so far in this month. The Nifty could breakout in either way but it appears that the Nifty may break out on the upper side.

On Friday Infosys India would announce its results and that would act as a trigger to the market. Incidentally, yesterday Basab Pradhan, global head of sales of Infosys Ltd, has announced that he resigned to start his own venture. Last month, N.R. Narayana Murthy, the co founder of Infosys rejoined as executive chairman nearly seven years after he hung up his boots from all executive roles. The resignation of Basab Pradhan is expected to upset the bulls in infosys. According to Thomson Reuters StarMine data Infosys Ltd may miss the April-June operating profit consensus forecast when it reports results on Friday.

Let us watch it out and inform more about the market in our future edition.